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  • Foreign property income - Poland

    I have the first year of foreign property income to report.The property is POland and I am employed in UK - UK tax resident. Do I just complete the foreign section for property? Shall I delete the UK property income section? I have a question regarding exchange rates. I receive my rent monthly, do I convert each month using the exchange rates for each month published by HMRC? Tax year in Poland is January to December but I pay an on account payment for tax each month. I have submitted tax assessment for Jan to Dec 24. Do I use the foreign tax paid from my Polish tax assessment to claim the foreign tax relief or do I add up all on account payments for all relevant months for UK April 23 to March 24? Many thanks
  • Foreign income

    Hi
    First year of receiving foreign property rent income from Poland, started May 23.
    Do I convert each month's rent using HMRC spot rate to get the GBP?
    I pay tax each month, on account to polish tax authority. Poland tax return- you do for calendar year.
    Do I claim tax relief for the tax included on my Polish tax return only or all payment I made for this period?
    For example, the polish tax return is for Jan 23 to Dec 23, but I paid monhtly POA in Jan 24, Feb 24, March 24.
    Also POA in UK, it is showing me the tax due to HMRc in Jan 25 but nothing like the payments on account, half of the tax in jan 25 and half for July 25.
    Is this correct that on foreign rent income you dont pay POA in UK, just the final one in Jan?
    Many thanks